There are couple of companies which let you watch your TV, photos and listen to your music stored on your computer. This way, you would eliminate the need to have a high capacity mobile phone.
The one we are looking at is Orb
It works like this, you install the software on your home PC. If you want TV, you then install a TV tuner card, and then keep your PC switched on and connected to the Internet. You can then access whatever is stored on your PC remotely on your mobile. Its not just that, you can remote control too!
Most of the recent phones with a internet browser, real player or windows media player will work just fine. Also, you will have to have a 3G or a Wi-fi connection for this to work really well. A GPRS connection would work too, only that its slow :)
Now you go to orb.com, login and request for TV, songs and photos and they will be redirected from your PC. There are specific applications like Winamp which could be remote controlled as well
There are others as well - Slingmedia which provides physical devices called the Slingbox do the same job as well lets you stream directly from your TV too and lets you remote control your TV as well as your computer.